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Business Segments | 9 Months Ended
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Mar. 31, 2020
Business Segments |
Business Segments | 12. Business Segments We evaluate performance and allocate resources, based on the Animal Health, Mineral Nutrition and Performance Products segments. Certain of our costs and assets are not directly attributable to these segments and we refer to these items as Corporate. We do not allocate Corporate costs or assets to the segments because they are not used to evaluate the segments’ operating results or financial position. Corporate costs include certain costs related to executive management, business technology, legal, finance, human resources and business development. We evaluate performance of our segments based on Adjusted EBITDA. We define Adjusted EBITDA as income before income taxes plus (a) interest expense, net, (b) depreciation and amortization, (c) (income) loss from, and disposal of, discontinued operations, (d) other expense or less other income, as separately reported on our consolidated statements of operations, including foreign currency gains and losses and loss on extinguishment of debt, and (e) certain items that we consider to be unusual, non-operational or non-recurring. The accounting policies of our segments are the same as those described in the summary of significant accounting policies included herein.
|  | Three Months |  | Nine Months
For the Periods Ended March 31 |  | 2020 |  | 2019 |  | 2020 |  | 2019
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Animal Health |  | $ | 138,974 |  | $ | 129,189 |  | $ | 404,513 |  | $ | 399,940
Mineral Nutrition |  |  | 56,200 |  |  | 60,653 |  |  | 164,534 |  |  | 177,810
Performance Products |  |  | 15,565 |  |  | 15,894 |  |  | 45,424 |  |  | 46,362
Total segments |  | $ | 210,739 |  | $ | 205,736 |  | $ | 614,471 |  | $ | 624,112
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |
Animal Health |  | $ | 6,665 |  | $ | 5,571 |  | $ | 19,760 |  | $ | 16,420
Mineral Nutrition |  |  | 629 |  |  | 592 |  |  | 1,871 |  |  | 1,805
Performance Products |  |  | 509 |  |  | 273 |  |  | 1,303 |  |  | 825
Total segments |  | $ | 7,803 |  | $ | 6,436 |  | $ | 22,934 |  | $ | 19,050
Adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |
Animal Health |  | $ | 34,635 |  | $ | 33,241 |  | $ | 93,534 |  | $ | 104,882
Mineral Nutrition |  |  | 4,055 |  |  | 5,287 |  |  | 11,214 |  |  | 11,934
Performance Products |  |  | 1,506 |  |  | 1,330 |  |  | 3,815 |  |  | 3,560
Total segments |  | $ | 40,196 |  | $ | 39,858 |  | $ | 108,563 |  | $ | 120,376
Reconciliation of income before income taxes to Adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |
Income before income taxes |  | $ | 18,664 |  | $ | 19,515 |  | $ | 39,131 |  | $ | 62,294
Interest expense, net |  |  | 3,263 |  |  | 2,931 |  |  | 10,049 |  |  | 8,729
Depreciation and amortization – Total segments |  |  | 7,803 |  |  | 6,436 |  |  | 22,934 |  |  | 19,050
Depreciation and amortization – Corporate |  |  | 445 |  |  | 439 |  |  | 1,243 |  |  | 1,357
Corporate costs |  |  | 10,064 |  |  | 9,850 |  |  | 30,283 |  |  | 28,654
Restructure costs |  |  | — |  |  | — |  |  | 425 |  |  | —
Stock-based compensation |  |  | 565 |  |  | 565 |  |  | 1,694 |  |  | 1,694
Acquisition-related cost of goods sold |  |  | — |  |  | — |  |  | 280 |  |  | —
Acquisition-related transaction costs |  |  | — |  |  | — |  |  | 462 |  |  | —
Acquisition-related other |  |  | — |  |  | — |  |  | 167 |  |  | —
Other, net |  |  | — |  |  | — |  |  | — |  |  | (1,506)
Foreign currency (gains) losses, net |  |  | (608) |  |  | 122 |  |  | 1,895 |  |  | 104
Adjusted EBITDA – Total segments |  | $ | 40,196 |  | $ | 39,858 |  | $ | 108,563 |  | $ | 120,376
|  | March 31, |  | June 30,
As of |  | 2020 |  | 2019
Identifiable assets |  |  |  |  |  |
Animal Health |  | $ | 555,917 |  | $ | 508,864
Mineral Nutrition |  |  | 68,693 |  |  | 67,662
Performance Products |  |  | 32,232 |  |  | 32,886
Total segments |  |  | 656,842 |  |  | 609,412
Corporate |  |  | 119,208 |  |  | 117,259
Total |  | $ | 776,050 |  | $ | 726,671
The Animal Health segment includes all goodwill of the Company. The Animal Health segment includes advances to and investment in an equity method investee of $3,635 and $3,287 as of March 31, 2020, and June 30, 2019, respectively. The Performance Products segment includes an investment in an equity method investee of $884 and $759 as of March 31, 2020, and June 30, 2019, respectively. Corporate assets include cash and cash equivalents, short-term investments, debt issuance costs, income tax-related assets and certain other assets.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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